Kazakhstan center for interbank clearing to begin account settlements with VISA on the territory of Kazakhstan

/IRBIS, Feb.24, 00/ - PRIME-TASS informs that Kazakhstan center for interbank clearing /KCIC/ under the National Bank of Kazakhstan began to settle accounts with VISA cards on the territory of the country. An agreement has been signed between KCIC and VISA to assign KCIC as a settlement agent on internal transactions with VISA cards in Kazakhstan. Similar agreements have been signed between the banks-participants and KCIC. After clearing the transactions made on the territory of Kazakhstan by VISA, it sends calculated net positions to KCIC for further settlement of accounts between the banks-participants in national currency - tenge. Following banks are the members of this account settlement system: Halyk Savings bank of Kazakhstan, Almaty merchant bank, Kazkommertsbank, Bank TuranAlem and "ABN AMRO Bank Kazakhstan". VISA says Kazakhstan is among five fast growing plastic card markets of the world.